Canada's main stock index closed at a record high on Wednesday but well off its session highs, as sharp gains for gold miners were offset by losses among energy companies and a fall in grocery retailer ...

By Alastair Sharp TORONTO (Reuters) - Canada's main stock index closed at a record high on Wednesday but well off its session highs, as sharp gains for gold miners were offset by losses among energy companies and a fall in grocery retailer Empire Company Ltd. * The Toronto Stock Exchange's S&P/TSX composite index ended up 22.56 points, or 0.14 percent, at 16,136.59. * It had reached as high as 16,187.85 points but pared gains following news that the U.S. Federal Reserve had hiked rates but kept its 2018 rate outlook unchanged. ...

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Burundi is set to hold an election in 2020, and besides voting, it now wants its citizens to do one more thing: pay for it. The government plans to fundraise for the polls, saying it is seeking voluntary contributions from individuals and households, including foreign nationals. The move is part of the state’s plan to…

The USDCAD pair is still trying to work its way higher and by the look of things, it has not been making a great job of it. The focus would be on the dollar for today as we have the inflation data in the form of CPI from the US and we would also be having the Fed rate annoucement and statement. Most of the market expects the Fed to hike rates today and this has already been priced into the markets.

From Tyler Durden: Earlier this week, former Congressman Ron Paul posted a Twitter poll asking his followers to choose between four different assets for a long-term investment, with the stipulation that the bearer would need to keep their money locked up… Read more ›

The gold prices were relatively weaker during the Tuesday’s session as the market is expecting a hawkish outlook from Fed on interest rate hike. Looking ahead, the gold market will be influenced by the movement in USD and is likely to be volatile.

Forex has become very cautious the past day as traders await a slew of central bank announcements over the next day and a half. The Pound has been also affected by political concerns again in the U.K and Gold has essentially sat in place. The Pound has remained near the lower rungs of its short-term value as political concerns once again embattle the U.K landscape.

President Trump suffered a major setback as the once strictly Republican state of Alabama has, for the first time in 25 years, elected a Democrat to the US Senate. Democrat Doug Jones staged a stunning come-from-behind win against GOP Roy Moore in, what many believe, will trigger a political earthquake that will be felt nationally and internationally. The vote had been nip-and-tuck and, with 99% of the vote in, Jones was holding a 50% to 49% lead. The win puts the Democrats just two seats away from the majority in the US Senate in 2018. ...

India’s conservative investors, particularly the ones in smaller towns, are milking the country’s booming stock markets. After years of putting their money in unproductive assets like gold and less tax-efficient instruments, including bank deposits, these investors are gravitating towards mutual funds and stock markets. In fact, a recent boom in mutual fund investments in India…

Early Wednesday, WTI and Brent are trading inside yesterday’s ranges. This suggests investor indecision and impending volatility. Traders are likely to make up their minds following the release of the U.S. Energy Information Administration’s weekly inventories report at 1530 GMT.